Tourism revival to fuel retail growth

The report’s authors are especially optimistic about increased demand for tourism and say absorption of the incremental retail space will depend on sustained strong growth in tourism. The report forecasts that tourists and passengers in transit will revive demand, further boosting sales in 2010. “As per our estimates, short-visit tourist retail sales are expected to register revival, while sales at duty-free shops at airports will rise significantly under the impact of rising passenger traffic.”